PPP Loan Data — London Bay Construction Inc, Naples, FL
London Bay Construction Inc
Location: Naples, FLTweet This • Search All PPP Data
London Bay Construction Inc is a corporation located at 2210 Vanderbilt Beach Rd in Naples, Florida that received a Coronavirus-related PPP loan from the SBA of $1,590,145.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
London Bay Construction Inc in Naples, FL received a Paycheck Protection Loan of $1.59M through Synovus Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, London Bay Construction Inc's 2019 payroll expenses are estimated to be at least $7.63M.
Based on their reported 94 jobs retained, this equals an estimated average yearly compensation of $81,199 per employee1
Reported PPP Proceed Usage:
On the PPP application, London Bay Construction Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,590,145
Business Information - London Bay Construction Inc in Naples, FL
2210 Vanderbilt Beach Rd
Naples, FL 34109
Lessors of Nonresidential Buildings (except Miniwarehouses)
NAICS code 531120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Naples
In the Naples area, 8 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 94) and received an average PPP loan of $221,579 (compared to this company's $1.59M).
Similar Nearby Businesses Who Received PPP Funding:
Horizon Buying Group, Inc
Naples Industrial Estates, LLC
Gordon John Henke LLC
Commercial Management Of Naples, Inc
PTM Properties, Inc
Venture X LLC
Goodlette Pine Ridge, LLC
Industry PPP Comparison Statistics
Nationwide, 19,255 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a total of $1.72B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 10 employees, 89% lower than London Bay Construction Inc's reported 94 employees, and received an average PPP loan of $89,367, 94% lower than this company's loan of $1.59M.
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Footnotes & Information
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